Tax Lien Lawyers in Tahlequah
In Tahlequah, Oklahoma, a "lien" is specified as a property right that's authorized to a creditor against a piece of property owned by a debtor, for the purpose of collecting on the debt if the debtor is unwilling or unable to pay. A lien allows its owner to exercise some control over the property that is the subject of the lien. This includes the right to force a sale of the property, and to seize the resulting revenue, and priority access to the property ahead of other creditors.
A "tax lien" is simply a lien placed on a piece of property by the state or local government, to acquire the payment of back taxes. A tax lien in Tahlequah, Oklahoma can arise to secure the payment of any federal or state tax, including income tax, estate tax, or gift tax.
However, a tax lien in Tahlequah, Oklahoma will be ineffective if the debtor doesn't own any valuable property to encumber with a lien. As with any debt, the creditor can't collect if the debtor doesn't have any assets. Nonetheless, a tax lien can be applied to property that the taxpayer gains after the lien goes into effect.
Tax Lien Procedure in Tahlequah, Oklahoma
In Tahlequah, Oklahoma, the process for creating a tax lien is fairly uncomplicated. First, the tax authorities decide that a taxpayer actually owes taxes that they haven't paid (that they're delinquent in their taxes).
At this point, they will send the taxpayer a written notice stating that they owe a certain amount of money in back taxes, and that they have a small window of time (often 10 days or less) to pay it.
If the deadline passes without payment, most tax liens in Oklahoma take effect automatically, giving the tax collectors all of the options in your property that any other lien holder would have.
Nonetheless, if the federal government does not seek to enforce a tax lien in Tahlequah, Oklahoma within 10 years of imposing it, federal law dictates that the lien automatically expires. This is effectively a statute of limitations on a tax lien, meant to encourage the federal government to collect its taxes in a reasonable period of time, and guarantee that property is not encumbered by a lien forever.
How Can a Tahlequah, Oklahoma Tax Lien Lawyer Help?
If you are notified by the government that you owe back taxes in Oklahoma, and that they are going to pursue a tax lien to collect their money, things can get very perplexing, very quickly.
Luckily for you, tax lawyers in Tahlequah, Oklahoma are experts at dealing with matters such as these, and can make sure your rights are safeguarded, and advise you on the best way to proceed, if you are facing the prospect of a tax lien.